CIM Stock Recent News

Fed speculation leads to increased market volatility and interest rate reductions. CIM preferred stocks pricing remains stable despite bond market rally. Active monitoring and readiness for interest rate changes can lead to advantageous investment decisions.

NEW YORK--(BUSINESS WIRE)--Chimera Investment Corporation (NYSE: CIM) (the “Company”) announced today the pricing of an underwritten public offering of $65 million aggregate principal amount of its 9.250% senior notes due 2029 (the “Notes”). The Company has granted the underwriters a 30-day option to purchase up to an additional $9.75 million aggregate principal amount of the Notes to cover over-allotments. The offering is expected to close on August 19, 2024, subject to the satisfaction of cus.

Chimera Investment (CIM) came out with quarterly earnings of $0.37 per share, beating the Zacks Consensus Estimate of $0.34 per share. This compares to earnings of $0.36 per share a year ago.

The market currently undervalues Chimera's common stock by an enormous margin, trading it at price-to-book ratios that are far below its peers. The Company's track record is strong, showing positive EPS in 9 of the last 10 years, and the one exception, 2022, was due to interest rate challenges that are unlikely to recur. Chimera's loan portfolio is very strong, consisting nearly entirely of residential mortgage loans and related investments. Overall, Chimera's portfolio experiences very low loss rates, which seem unlikely to increase.

CIM preferreds B and D offer high dividend income with yields over 11%, well covered by assets and cashflows. The unique fixed-to-floating structure resulted in high yields, now offering a favorable reward-to-risk ratio for investors. Fundamental analysis of CIM's underlying business shows stability for preferred dividends, making them an opportunistic investment opportunity.

Chimera Investment Corporation's preferred stock has offered a total return of 13.4% in less than 7 months. The company's common stock has faced challenges due to high interest rates, but the preferred stock remains stable and offers a 9.2% yield. Chimera's preferred stock is a safe investment with potential for capital gains if interest rates decrease, making it attractive for income-oriented investors.

Chimera (CIM) witnessed a jump in share price last session on above-average trading volume. The latest trend in earnings estimate revisions for the stock suggests that there could be more strength down the road.

NEW YORK--(BUSINESS WIRE)--The Board of Directors of Chimera Investment Corporation announced the declaration of its second quarter cash dividend of $0.35 per common share, an increase from its first quarter cash dividend of $0.33 on a reverse-stock-split adjusted basis. The dividend is payable July 31, 2024 to common stockholders of record on June 28, 2024. The ex-dividend date is June 28, 2024. Disclaimer This press release includes “forward-looking statements” within the meaning of the safe.

LOS ANGELES--(BUSINESS WIRE)--CIM Group closes $125 million loan to Applied Digital for construction of HPC data center campus in Ellendale, North Dakota.

PHOENIX--(BUSINESS WIRE)--CIM Group sells two, fully leased industrial buildings totaling 726,802 sf adjacent to the Phoenix Goodyear Airport in Arizona.